LinkedIn Announces Initial Public Pricing

(Ping! Zine Web Hosting Magazine) – Today Professional Network LinkedIn announced pricing on 7,840,000 shares of common stock, which are either being provided by stockholders or directly by LinkedIn. The end result is pricing that is now available to the public for forty-five dollars per share.

The company is also providing underwriters a thirty day opportunity to cover over-allotments by purchasing additional shares. The offering is being managed by companies including J.P. Morgan and BofA Merrill Lynch, among others.

Upon news of the public pricing, LinkedIn’s share in the New York Stock Exchange more than doubled. LinkedIn has more than 100 million clients worldwide.